A fiduciary owes a duty of loyalty to a client. As a client, you can expect that if someone owes you a fiduciary duty, that he or she is aware of fiduciary law and will be loyal to you, over their own interests.
Common fiduciaries:
- Attorneys.
- Executors and Administrators of Estates.
- Agents under a Power of Attorney
- Trustees.
- Conservators.
- Guardians.
- Financial Fiduciaries.
- Professional Fiduciaries (Private Professional Fiduciaries).
- Bank Trust Departments when acting as a Trustee, and Trust Companies.
- Real Estate Brokers and Agents in California.
- A Representative Payee under Social Security law.
- A Veterans Fiduciary under Federal Law.
- Professional Conservator.
- Private Professional Conservators.
As a matter of California law, a fiduciary owes the highest duty of good faith, honesty and fair dealing with a client.
In general, the fiduciary must not commingle the funds of his subject with his own money, and must not profit from the transactions of the subject. There are exceptions to this rule, where a trust provides otherwise.
For example, a private professional conservator’s duty to the conservatee obligates the professional conservator to examine the needs of the conservatee in a way that complies with her duty of loyalty. Call us to discuss your conservatorship questions and needs. Attorneys often refer cases to our office which require professional fiduciaries or private conservators.
To talk to a Fiduciary Law Attorney in Los Angeles in our office, call Mina Sirkin at 818.340.4479 or to obtain information about a private professional conservator.
#Fiduciay #Law #LosAngeles #Los #Angeles
